Caution with Google, $480 Support

Blain Reinkensmeyer
Posted on Wed 13th Dec, 2006 09:20:00 AM

Be careful with Google (GOOG) if you are currently holding shares, as the stock is right near its $480 strong support line. If the stock falls under this on heavy volume, then I would take my money and run. If you are holding shares going into today a stop at $479 is not a bad idea, likewise placing a limit order to short at $478.50 wouldn’t be a bad play either. Though Google can very well bounce out of this bear flag pattern, caution is still needed here!

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More on this topic (What's this?)
Google Patents: a good idea that needs some work (Pharma's Cutting Edge, 12/14/06)
Google: Playing Defense Against the Bears (Jutia Group, 12/19/06)
Google: Classic Head Fake (Jutia Group, 12/6/06)
Read more on Google, What is a stock? at Wikinvest

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Other Websites Referencing This Post

  1. Google Tumbles Under $480 - Stock Trading 101
  2. Google Gets Support, But Will it Last? - Stock Trading 101

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